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Basis of Preparation and Presentation of the Consolidated Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2023
Basis of Preparation and Presentation of the Consolidated Financial Statements [Abstract] |
Schedule of Subsidiaries | As of December 31, 2023, and 2022, the subsidiaries of Grupo Simec, S.A.B. de C.V. included in the consolidation are the following:
|  | Percentage of equity owned |
|  | 2023 |  |  | 2022 |
Subsidiaries established in Mexico: |  |  |  |  |  |
Compañía Siderúrgica de Guadalajara, S.A. de C.V. |  |  | 99.99 | % |  |  | 99.99 | %
Arrendadora Simec, S.A. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
Simec International, S.A. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
Compañía Siderúrgica del Pacifico, S.A. de C.V. |  |  | 99.99 | % |  |  | 99.99 | %
Coordinadora de Servicios Siderúrgicos de Calidad, S.A. de C.V. (7) |  |  | 100.00 | % |  |  | 100.00 | %
Industrias del Acero y del Alambre, S.A. de C.V. |  |  | 99.99 | % |  |  | 99.99 | %
Procesadora Mexicali, S.A. de C.V. (7) |  |  | 99.99 | % |  |  | 99.99 | %
Servicios Simec, S.A. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
Sistemas de Transporte de Baja California, S.A. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
Operadora de Servicios Siderúrgicos de Tlaxcala, S.A. de C.V. (7) |  |  | 100.00 | % |  |  | 100.00 | %
Operadora de Metales, S.A. de C.V. (7) |  |  | 100.00 | % |  |  | 100.00 | %
Administradora de Servicios Siderúrgicos de Tlaxcala, S.A. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
CSG Comercial, S.A. de C.V. |  |  | 99.95 | % |  |  | 99.95 | %
Operadora de Servicios de la Industria Siderúrgica ICH, S.A. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
Corporación Aceros DM, S.A. de C.V. and subsidiaries (1) |  |  | 100.00 | % |  |  | 100.00 | %
Acero Transportes San, S.A. de C.V. (1) |  |  | 100.00 | % |  |  | 100.00 | %
Simec Acero, S.A. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
Corporación ASL, S. A. de C.V. |  |  | 99.99 | % |  |  | 99.99 | %
Simec International 6, S.A. de C.V. (7) |  |  | 100.00 | % |  |  | 100.00 | %
Simec International 7, S.A. de C.V. |  |  | 99.99 | % |  |  | 99.99 | %
Simec International 9, S.A.P.I. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
Corporativos G&DL, S.A. de C.V. (7) |  |  | 100.00 | % |  |  | 100.00 | %
Orge, S.A. de C.V. |  |  | 99.99 | % |  |  | 99.99 | %
Siderúrgica del Occidente y Pacifico, S.A. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
RRLC, S.A.P.I. de C.V. |  |  | 99.99 | % |  |  | 95.10 | %
Grupo Chant, S.A.P.I. de C.V. |  |  | 99.99 | % |  |  | 97.61 | %
Aceros Especiales Simec Tlaxcala, S.A. de C.V. (7) |  |  | 100.00 | % |  |  | 100.00 | %
Gases Industriales de America, S.A. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
GSIM de Occidente S.A. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
Fundiciones de Acero Estructural, S.A. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
Siderúrgicos Noroeste, S.A. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
Simec Siderúrgico, S.A. de C.V. |  |  | 100.00 | % |  |  | 100.00 | %
Subsidiaries established in foreign countries: |  |  |  |  |  |  |  |
SimRep Corporation and Subsidiaries (3) (4) (5) (7) |  |  | 99.41 | % |  |  | 99.41 | %
Pacific Steel, Inc. (4) |  |  | 100.00 | % |  |  | 100.00 | %
Pacific Steel Projects, Inc. (4) (7) |  |  | 100.00 | % |  |  | 100.00 | %
Simec Steel, Inc. (4) |  |  | 100.00 | % |  |  | 100.00 | %
Simec USA, Corp. (4) |  |  | 100.00 | % |  |  | 100.00 | %
Undershaft Investments, NV. (6) |  |  | 100.00 | % |  |  | 100.00 | %
GV do Brasil Industria e Comercio de Aço LTDA (2) |  |  | 100.00 | % |  |  | 100.00 | %
Companhia Siderurgica do Espiritu Santo S.A. (2) |  |  | 100.00 | % |  |  | 100.00 | %
| (1) | Companies located in San Luis Potosi. For purposes of this report constitute the “Grupo San”.
| (2) | Companies located in Brazil.
| (3) | ICH owns 0.59% of the shares in this company at December 31, 2023.
| (4) | Companies established in the United States, except a subsidiary of SimRep which is established in Canada.
| (5) | SimRep as an individual company has no significant operations or assets, except for its investment in Republic Steel. For purposes of this report, these companies are named “Republic”.
| (6) | Company established in Curaçao.
| (7) | Companies that have lost the entire capital stock, except Procesadora Mexicali, S.A. de C.V. and Aceros Especiales Simec Tlaxcala, S.A. de C.V. which only have lost 2/3 of their capital stock.
Schedule of Relevant Exchange Rates | Relevant exchange rates used in the conversion of the financial statements of foreign subsidiaries were as follows (Mexican pesos per one U.S. dollar):
Current exchange rate as of December 31, 2023 |  |  | 16.89 |
Current exchange rate as of December 31, 2022 |  |  | 19.36 |
Average exchange rate for the year ended December 31, 2023 (*) |  |  | 17.77 |
Average exchange rate for the year ended December 31, 2022 (*) |  |  | 20.12 |
Current exchange rate as of October 25, 2024 |  |  | 19.93 |
| (*) | Average exchange rate used to translate revenues, costs and expenses of the companies mentioned above.
Schedule of Estimated Useful Lives of Assets | The initial estimated useful lives of the Company’s main assets are as follows:
|  | Years
Buildings |  | 10 to 65
Machinery and equipment |  | 5 to 40
Transportation equipment |  | 4
Furniture, chattels and computer equipment |  | 3 to 10

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